CleanSpark (CLSK) is up 5% today in pre-market at $13.25, recovering from a recent weak stretch. The surge is primarily driven by investor enthusiasm following the company's strategic pivot towards AI and hyperscale data centers. This shift has been met with positive Wall Street sentiment, including an Outperform rating and a $27 price target from Citizens JMP.
- CleanSpark plans to repurpose a portion of its existing power capacity to serve AI and high-performance computing customers, broadening its business model beyond Bitcoin mining.
- Broader market sentiment is also contributing, with NASDAQ futures climbing amid tech stock rebounds, signaling strong pre-market risk appetite for technology and growth stocks.
- Crypto markets are providing a relatively stable backdrop.